ch 14 Tableau

Required information

[The following information applies to the questions displayed below.] You have been asked by the CEO of Mountaineer Co. to assist in analyzing product costs. This analysis is used in internal decision making and in reporting to investors. The following Tableau Dashboard provides data needed for the analysis.

Prepare an income statement for the company. Note: use cost of goods sold calculated in part 1.

Raw Materials Inventories Raw materials, beginning Raw materials purchases Raw materials used Raw materials, ending $0 $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process Finished Goods Rent expense - Factory $50,000 54,000 50,000 $40,000 43,000 Repairs expense - Factory $30,000 33,000 Factory supplies used (indirect materials) Factory utilities $20,000 $10,000 50 Beginning Ending Beginning Ending Indirect labor Additional Data Accounts receivable, net Cash Direct labor $150,000 $350,000 $180,000 Sales and Select Expense Accounts Sales General & administrative expenses Selling expenses $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 Mountaineer Co. Income Statement For Year Ended December 31 Raw materials inventory, beginning Cost of goods sold: Cost of goods available for sale Cost of goods sold Cost of anode sold Operating expenses: Total operating expenses Net income Raw Materials Inventories Raw materials, beginning Raw materials purchases Raw materials used Raw materials, ending $0 $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process Finished Goods Rent expense - Factory $50,000 54,000 50,000 $40,000 43,000 Repairs expense - Factory $30,000 33,000 Factory supplies used (indirect materials) Factory utilities $20,000 $10,000 50 Beginning Ending Beginning Ending Indirect labor Additional Data Accounts receivable, net Cash Direct labor $150,000 $350,000 $180,000 Sales and Select Expense Accounts Sales General & administrative expenses Selling expenses $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 Mountaineer Co. Income Statement For Year Ended December 31 Raw materials inventory, beginning Cost of goods sold: Cost of goods available for sale Cost of goods sold Cost of anode sold Operating expenses: Total operating expenses Net income